Vendor-managed inventory programs, especially those that include vending, can save end-users time and money by reducing carrying costs and safeguarding against stock-outs, all while providing distributors with improved efficiencies and greater customer security. These benefits are made possible through inventory control software, but the degree of cost savings and other benefits that distributors and their customers can achieve depends on whether the VMI software has the following key features:
- Cloud capability/SaaS. Web-based software benefits distributors and their customers with more than just fast deployment and streamlined updates. Web-based software also equates to a lower total cost of ownership, since users won’t need to provide their own servers. (In addition, 1sourcevend’s customers aren’t required to pay annual license fees. Contact us for pricing information.)
- Flexible user permission and restriction settings. These settings make things like employee usage reports and product pricing available to some users but not others, striking a balance between utility and privacy.
- Ease of use. VMI software doesn’t need to be complex to be effective. Unfortunately, some vending software is so complex that providers require users to spend days and hundreds of dollars on mandatory trainings just to get started. (1sourcevend’s simple but powerful inventory management software can have your customers up and running in hours, not days. Request a demo to learn more.)
- Customizable inventory alerts. Part of what makes VMI so attractive is how it can help companies avoiding running out of mission-critical items, regardless of how frequently they’re used. To reap this benefit, look for inventory control software with customizable reorder-point settings and low-stock email alerts.
- Check-in/check-out capabilities. This feature is a must-have for end-users looking for better accountability and control of high-value, returnable items such as power tools, laptops, radios, safety equipment and more.
- Robust usage reporting. Being able to run detailed usage reports is a major benefit of VMI software, especially when used in combination with vending machines. (Usage reports for vending-powered VMI programs are more accurate than bin-centered systems, since vending machines require users to enter an ID before items are made available.) Some providers hoard usage data for themselves, so confirm with your provider that you will have access to this information.
- Remote inventory level tracking. When distributors can view customer inventory levels from the comfort of their offices, they can better forecast customer needs. This means fewer out-of-stocks and a reduced need for in-person inventory counts.
1sourcevend’s affordable AVM vending machines come standard with our simple and powerful cloud-based inventory control software. Contact us or request an online demo to learn how distributors are using our machines to increase customer stickiness, increase share of wallet and talk about more than just price.